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OTTAWA - Ottawa has given its blessing to the sale of properties+ E$ G5 P; Y& A! U
owned by Athabasca Oil Sands Corp. to a Chinese company.3 z3 \! a- Q. n/ t
Federal Industry Minister Tony Clement says he has reviewed the
9 h( h0 V* e/ L# ddeal between Athabasca and PetroChina International Investment Co.
$ q( N5 F6 F; x8 |, VLtd. and finds its is likely to be of net benefit to Canada.
( p* N: H) t8 t3 |7 c5 ` Clement says PetroChina and its parent, PetroChina Co. Ltd., have1 O) W0 |1 v7 Q O) G5 t
made a number of significant commitments should they be allowed to
* o1 C& }! } a& m* R. z7 g6 ~acquire control of the MacKay and Dover oil sands projects.* w, @% c( U% Q# I
Among other things, the Chinese concerns have agreed to capital
1 B/ G7 C. L4 f* t5 H. c- Zexpenditures in excess of $250 million for developing the properties1 P6 Q6 f: b2 }* U2 U
over the next three years.) n# o7 m; W) e) O# _8 S$ W) D
They have also pledged to increase employment levels in Canada as1 m% r; u8 e8 M8 @. V) m5 d
they develop the projects over the next three years and to maintain
6 \& j; ^9 L" H) m8 dan Alberta head office for operating companies associated with the
$ f- D' g8 ? j7 F* i2 M8 ], W; Bprojects for the next five years.
0 ?/ Q& X6 e. a5 J/ P+ U7 S (The Canadian Press) |
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